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Politics : Technical Analysis
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To: lorne who wrote (5738)4/6/2013 11:00:33 AM
From: Beam  Read Replies (2) of 14245
 
James -- I think this is the first step on the road to confiscation, just like Roosevelt did in 1933. In effect, those collecting physical metals are being groomed to supply the "backing" for the next incarnation of the dollar -- sometime after a major economic crisis, perhaps very soon.

Roosevelt "compensated" those whose gold was confiscated @ $20 0z -- then quickly raised the "standard" to $35 oz. Gerald Celente mentions this on KWN: Gerald Celente

Another must-read article on this can be found here: Why U.S. Gov’t Confiscated Gold in 1933. Can it Happen Again? - GoldSeek.com which points out that Roosevelt didn't raise the price of gold, but rather devalued the currency.

There's not a single doubt in my mind that the government will have to resort to confiscation to keep the US dollar relevant in any way, shape or form -- especially when the Chinese and Russians peg their currencies to gold.

Why not let the citizens buy the gold for you, then just take it all away and print up a few more billions of sheets of paper to give them in return. Then peg the price of gold to the new currency at a much higher value than you gave your "suppliers". It worked before, it'll work again -- oh, and they'll have to throw in world war III to stimulate the economy.
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